His office says Emanuel is "100% opposed" to a state takeover of CPS and bankruptcy.

Instead, Emanuel urged the governor to pass a state budget and give CPS more money to cover its pension costs.

If the proposal is to go anywhere in Springfield the top two democrats need to allow a vote.

Senate president John Cullerton released a statement saying in part “This is not going to happen,” adding, “It’s a far-fetched notion that the state is somehow in the position to take over the Chicago schools.

Speaker Madigan piled on--in a statement saying the governor “hopes to use a crisis to impose his anti-middle class agenda.”

Rauner sees it differently.

"Dozens of other states have the opportunity their school districts and municipalities to go bankrupt we believe that is good management practices," he said.